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Ira,
Prices going up? I like to think of it as our
currency continuing to lose value. Legal tender laws are the only thing
saving it.
It's only been a little over thiry years since
Nixon cut the dollar loose to float. Perhaps the grand experiment with our
fiat currency is nearing its end. After all, when one looks back in
history, none have ever endured. Have a great weekend.
Pete Hallock
www.xlibris.com/duped.html
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
mr.ira
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">real traders
Cc: <A title=NQoos@xxxxxxxxxxxxxxx
href="">NQoos@xxxxxxxxxxxxxxx
Sent: Saturday, July 24, 2004 7:14
PM
Subject: [RT]
The housing boom must be near an end. There
was an article in today's paper about people lined up 2 days in advance,
living in their cars, in order to buy homes that start at $900,000. The
average price of homes here is going up about $3000 per week. Last week
the average price was $500,000, today it is $503,000.
The housing market here is like the stock market
in 1999 and 2000. I don't think the housing market will fall to the same
degree as the stock market did, but a 20% drop will hurt a lot of
people. It will also reflect upon some commodities, housing stocks and
housing related stocks.
Of course there is no inflation. Just ask the government.
Have a good week end. Ira.
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